ITFC Development Effectiveness Report

The ITFC Annual Development Effectiveness Report illustrates ITFC’s progress towards achieving development impact, and translates ITFC’s strategic direction in focusing its activities to serve the Member Countries (MCs) better. A key goal of the strategy – to address gaps in trade finance, especially pronounced among SMEs – has received considerable attention in this year’s funding, as clearly evidenced in the transactions for 2016.

The Development Effectiveness Report aims to deliver accountability and transparency to all ITFC stakeholders, internally and externally. It will inform Member Countries, partners and other stakeholders to whom ITFC is accountable for development results. In addition, the report will serve as an internal tool to guide strategic and operational decisions to maximize ITFC’s development impact, whilst respecting the constraint of financial sustainability, and track progress towards goals and targets, as outlined in the 10-year strategy.

Trade is not only an engine of our member countries’ diversification, it is the cornerstone of future prosperity and livelihood across our member countries. ITFC aspires to grow and transform trade, as the Sustainable Development Goals (SDGs) have lifted trade and trade finance onto the global agenda once more. We continue to work with the Islamic Development Bank Group (IDBG) and internally in order to be prepared for the trade-finance challenges of the future. The ITFC 10-year strategy will accelerate our transformation and position us even more firmly as the preferred provider of Shariah-compliant trade-finance solutions.

In this inaugural edition, ITFC has analyzed its activities since inception in 2008 until 2016, putting historical data into the newly developed framework for development effectiveness. At the same time, it also sets out ambitions for future versions, which will feature a more comprehensive dataset, and for future ITFC operations, which will seek to expand upon areas highlighted in the report.

These reports will constitute our primary tool for monitoring development effectiveness, our contributions towards IDBG Strategic Objectives and towards the United Nations Sustainable Development Goals.